Test Marketing enables a business to effectively gauge the viability of a product or service prior to its wide scale roll-out into the mass market. The criteria used to judge the acceptability of a test market region include:
· a population that is demographically similar to the proposed target market, and
· relative isolation from densely populated media markets so that advertising to the test audience can be efficient and economical.
Island Analysis undertakes test marketing research within the Channel Islands for companies wishing to launch products and services into the UK market. It employs all forms of market research techniques during the course of its work including a CI online panel.
As a location in particular, the attraction of Guernsey as a test market for products and services is immense when taking into account:
· the near exact profile ratio fit in many areas between the UK and Guernsey of 1000:1 - for example: population, age, household numbers, economic breakdown (Reference: UK National Statistics Office and States of Guernsey);
· Guernsey’s relative isolation from the main UK markets but its similarities in terms of available branded products, services, and social habits and trends;
· Guernsey’s local dedicated media served by a daily newspaper, Channel Television, and commercial radio. However, all the main UK terrestrial and satellite stations are available to residents.
Finally, the Island Analysis team already has extensive experience within the retail sectors of both Jersey and Guernsey. It has undertaken a considerable amount of research within these sectors over the past three years. It is also setting up a retail monitor for both islands.